Nasdaq Stays Strong

MARKET SUMMARY

U.S. markets showed strength throughout Monday’s session but finished mixed on light economic news and headlines. A report indicating that Larry Kudlow is the leading contender to lead President Donald Trump's National Economic Council in replacement of the departed Gary Cohn gave the market a spike before momentum faded.

The Nasdaq gained 0.4% after trading to an all-time intraday high of 7,609 to extend its winning streak to 7-straight sessions. The Russell 2000 added 0.3% after making a run to 1,603 while holding the 1,600 level for the first time since January 26th.

The S&P 500 made a push towards the 2,800 level before slipping 0.1% but easily held its 50-day moving average into the closing bell. The Dow declined 0.6% while trading to a low of 25,152 to close back below its 50-day moving average.

TRADE OF THE DAY

THE SCIENCE OF WINNING PART 1

ANALYST UPGRADES / DOWNGRADES

Aratana Therapeutics (PETX) upgraded to Buy on valuation at CL KingSAP (SAP) upgraded to Outperform from In Line at Evercore ISITime Warner (TWX) upgraded to Buy from Neutral at UBS

Ranger Energy (RNGR) downgraded to Market Perform from Outperform at Wells FargoHubSpot (HUBS) downgraded to In Line from Outperform at Evercore ISIXL Group (XL) downgraded to Market Perform from Outperform at JMP Securities